It placed 1.15 billion ordinary shares at 0.013p per share, with 20% shareholder Suay Chin International subscribing £1.2 million for another 923.1 million shares, bringing its total shares in Kodal to 2.2 billion, representing 29% of the issued share capital.The subscription shares will be issued and admitted to trading on AIM after receipt of the proceeds from Suay Chin by 6 July.The remai...Read More
The Sage uranium deposit is believed to have vanadium grades of up to 1.5%, among the highest in the world.Average vanadium oxide prices rose to about US$13.60/lb in the first quarter of this year, up 164% year-on-year.Sage, which previously produced in 1990, features 94 unpatented mining claims.A 2011 technical report put historic resource estimates of about 4.8 million pounds of vanadium at an a...Read More
The company agreed to buy the Yukon's only operating mine from Capstone Mining in February for $37.5 million in cash and 9.9% of its equity.At the time it suspended the trading of its shares and said it wanted to raise $50 million in equity to fund the acquisition, working capital and resource development work to boost the mine life.It said the $30 million prepayment facility would be available im...Read More
Garofalo said the commercialisation process stemmed from pursuing the best technological solutions for each of its projects.He shared his perspective on transformation and an insight into the company's progress for the "Mining Journal Global Leadership Report: Preparing for transformation" being published later this month."We have a robust technical services team and technological team; we have 20...Read More
The move comes days ahead of the DRC Mining Week expo and conference being held in Lubumbashi from Wednesday, where Randgold Resources CEO Mark Bristow is slated to speak.Randgold (LSE: RRS) has been at the forefront of the mining delegation pushing for changes to the code, which is set to increase royalties, introduce a super profits tax and remove a 10-year amnesty on new rules for existing mine...Read More
The union at BHP's Escondida copper mine in Chile said on Friday that it saw a "favorable scenario" for reaching a deal on a new labor contract with the company, citing higher copper prices.In a letter to its members published on its website, the union at the world's largest copper mine said BHP has promised to respond to its recent proposal for a new contract by 3pm local time (1900 GMT) on Monda...Read More
Regulations to implement Congo's new mining code have been signed into law with no changes, advisers to the prime minister told Reuters on Saturday, despite objections from mining firms that have been threatening legal action.Prime Minister Bruno Tshibala signed the regulations into law overnight, his adviser Patrick Mutombo Buzangu told Reuters by telephone, but gave no further details.The prime...Read More
Investing.com - Gold prices were little changed in mid-morning trade on Friday as investors looked forward to the start of the Group of Seven summit and digested a round of trade threats by U.S. President Donald Trump.At 10:30AM ET (14:30GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange inched up 40 cents, or 0.03%, to $1,303.40 a troy ounce.In a sess...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* MSCI ACWI set to break 3-week streak of losses* Focus on G7 meeting this weekend* Talk of Fed, ECB tightening adds to risk-off sentiment* Asian shares close lower; Europe opens in the red* Dollar rebounds, Italy bonds under renewed pressureBy Ritvik CarvalhoLONDON, June 8 (Reuters) - World stocks slipped on Friday as expectations that tra...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* MSCI ACWI set to break 3-week streak of losses* Focus on G7 meeting this weekend* Talk of Fed, ECB tightening adds to risk-off sentiment* Asian shares close lower; Europe opens in the red* Dollar rebounds, Italy bonds under renewed pressureBy Ritvik CarvalhoLONDON, June 8 (Reuters) - World stocks slipped on Friday as expectations of trade...Read More
Investing.com - Gold prices were little changed in European morning trade on Friday as investors looked forward to the start of the Group of Seven summit.At 4:02AM ET (8:02GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange slipped 40 cents, or 0.03%, to $1,302.60 a troy ounce.In a session with no major U.S. economic data, market participants will focus...Read More
(Adds company news and futures)June 8 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 24 points lower at 7,680 on Friday, according to financial bookmakers, with futures FFIc1 up 0.67 percent ahead of the cash market open.* SYNTHOMER: Chemicals maker Synthomer plc SYNTS.L said it was included in an European Commission investigation into practices related to buying styrene monomer, a c...Read More
June 8 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 24 points lower at 7,680 on Friday, according to financial bookmakers.* LLOYDS BANKING: Lloyds Banking Group LLOY.L will sell its remaining 97.7 million shares in Standard Life Aberdeen SLA.L , representing 3.3 percent of the shares of the asset manager, Bank of America (NYSE:BAC) Merrill Lynch which is running the deal said on Th...Read More
(Recasts lead, adds analyst comments, updates levels throughout)* MSCI ex-Japan slip from 2-1/2 month highs* Euro near three-week highs as ECB seen tapering stimulus* U.S. jobless claims drops, pointing to tightening labour market* Copper at 4-1/2 year highs, oil prices strongBy Swati PandeySYDNEY, June 8 (Reuters) - Asian shares stepped back from a 2-1/2 month high on Friday as risk appetite sour...Read More
The price of copper held steady just off more than four year highs on Friday after customs data showed imports of raw materials by China rising sharply in May.In brisk trading New York Comex copper for delivery in July traded at $3.3050 a pound ($7,286 per tonne), up 7.8% over the last week and on track for its highest close since January 2014.Concentrate imports for January to May now total 7.8 m...Read More
Battery cell maker Northvolt has begun building in Sweden what will be Europe's largest lithium-ion battery cell factory, as it received the environmental permit for phase one earlier this week.The company aims to reduce reliance on batteries from China and South Korea as European carmakers come under increasing pressure hurry up and catch onto the ongoing electric vehicles (EVs) boom.Batteries...Read More
Katanga boasts one of Congo's biggest reserves of copper and cobalt, but it has underperformed for decades. (Image: Musonoie-T17 open pit mine. Courtesy of Katanga Mining.)Congolese-American businessman and convicted fraudster Charles Brown has brought back a lawsuit against Glencore (LON:GLEN) the company considered dead, becoming the third court challenge the mining and commodities giant faces...Read More
SHANGHAI, Jun 8 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index extended its decline overnight and closed at 93.44.LME aluminium dropped close to 2% while lead, nickel and tin rose some 1%. LME copper inched up and hit a fresh high in four and a half years as the worries lingered over supply from the Chile Escondida l...Read More
* Asian shares set for wobbly start, Nikkei futures down 0.6 pct* Euro near three-week highs as ECB seen tapering stimulus* U.S. jobless claims drops, pointing to tightening labour market* Copper at 4-1/2 year highs, oil prices strongBy Swati PandeySYDNEY, June 8 (Reuters) - Asian shares are set for a soft start on Friday as global risk appetite deteriorated on worries the European Central Bank wa...Read More
* Euro gains as investors bet on ECB stimulus wind-down* U.S. Treasury prices gain on trade tensions before G7 summit* S&P 500, Nasdaq end down, while Dow rises (Updates with U.S. markets' closing levels)By Caroline ValetkevitchNEW YORK, June 7 (Reuters) - The euro climbed to a three-week peak on Thursday as expectations mounted that the European Central Bank will signal an early wind-down of...Read More